OTHER NEWS - March 11, 1992
From Times Staff and Wire Reports
Foreclosure Delayed: The Bank of California has delayed the foreclosure of 700 residential lots in a Mission Viejo planned community for another 30 days. An auction had been scheduled for Tuesday to sell about 185 acres that make up the last remaining parcels in the 1,500-home Pacific Hills community. The delay will give Home Capital Corp., the real estate arm of troubled San Diego thrift HomeFed Bank, more time to find a buyer for the property. Several home builders--including Birtcher Homes, Fieldstone Corp., Lewis Homes and Standard Pacific--have expressed interest in buying the property at discount rates. The land has already been graded, and streets have been installed.
